Non-destructive Testing Market Report

Non-destructive Testing Market Analysis by Offering (Services, Equipment), By Test Methods (Traditional NDT Method, Digital/Advanced NDT Method), By Vertical, And Region Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-602-8
  • Number of Pages: 120
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the non-destructive testing market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for non-destructive testing market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of non-destructive testing market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Non-destructive Testing Market Categorization:

The non-destructive testing market was categorized into four segments, namely offering (Services, Equipment), test methods (Traditional NDT Method, Digital/Advanced NDT Method), vertical (Oil & Gas, Manufacturing, Aerospace and Defense, Construction, Automotive, Power Generation), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The non-destructive testing market was segmented into offering , test methods, vertical, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The non-destructive testing market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirteen countries, namely, the U.S.; Canada; the UK.; Germany; France; China; Japan; India; South Korea; Brazil; Mexico; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Non-destructive testing market companies & financials:

The non-destructive testing market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Ashtead Technology - In its primary business, Ashtead Technology offers comprehensive, designed systems for monitoring and inspecting offshore and onshore environments. The business provides subsea inspection and diving equipment, environmental and safety, hydrographic and geophysical, metocean, location, non-destructive testing, ROV tooling, and ROV survey sensors for hire. The business also offers new and used equipment. Additionally, it provides training, system integration, calibration, asset management, cable molding and connectors, and offshore advice and assistance for the upkeep of onshore and offshore equipment. In addition, the business uses its hubs in Houston, London, Aberdeen, Abu Dhabi, and Singapore for operations.

  • Eddyfi - Eddyfi is a company that manufactures and markets non-destructive testing apparatus. The business intends to concentrate on advancing Eddy Current Array (ECA) technology. Moreover, it creates specialized test equipment, analytical software, and acquisition tools. The firm serves the nuclear, oil and gas, aerospace, and power-generating industries. Eddyfi invests a significant amount of money in R&D and new product development to provide the best solutions to both new and established sectors. With offices in the US, UK, France, South Africa, and the United Arab Emirates, the corporation offers its goods in over 80 countries.

  • Fischer Technologies Inc. - The primary activities of Fischer Technologies Inc. are the production of instruments for coating thickness measuring, material testing, and material analysis. The company's areas of expertise include surface profile measuring, paint thickness measurement, wall thickness measurement, PCB thickness measurement, porosity testing, coating thickness measurement, nanoindentation, measurement devices, and materials analysis. Fischer Technologies Inc. provides solutions for various industries, including printed circuit boards, intricate aerospace problems, and straightforward painting applications.

  • General Electric - A wide range of business units make up General Electric, including Baker Hughes, a GE Company (BHGE), GE Power, GE Healthcare, GE Aviation, GE Digital, GE Transportation, GE Renewable Energy, GE Addictive, GE Lighting, GE Capital, and GE Global Research. Additionally, the company launched Current, powered by GE, a line of business offering GE energy solutions linked with software and sensors. GE Oil & Gas and Baker Hughes merged to establish BHGE on July 3, 2017. Globally, governments, businesses, and other clients can purchase energy generation equipment and services from the GE Power business division. Complete non-destructive testing solutions and equipment, including computed tomography, ultrasound, remote visual inspection, and radiography, are offered by BHGE. In addition, BHGE provides services, including equipment rentals, maintenance, training, product-specific services, and technical support. General Electric has a significant global footprint with production and distribution facilities spread across North America, Europe, Asia Pacific, the Middle East, and Africa. In more than 180 countries, the corporation provides its goods and services. It uses direct and indirect methods to market and distribute its goods and services. The company's network of independent distributors is one of its indirect channels; its sales force makes up its direct channels.

  • Nikon Corporation - Nikon Corporation's primary business is manufacturing and distributing image and optical equipment. The firm produces many other items, including semiconductors and measuring tools, even though its binoculars and cameras are its best-known products. The business is divided into four divisions: Industrial Metrology & others, Precision Equipment Business, Imaging Products Business, and Healthcare Business. The firm offers a range of inspection and measurement tools, including industrial microscopes, measuring instruments, and non-destructive inspection systems, under the Industrial Metrology & Others sector. The Imaging Source Europe GmbH, SCHOTT AG, Inspection Optical Systems AB, Clemex Technologies Inc., JEOL (Europe) BV, and Prior Scientific Instruments Ltd. were among the vendors with whom Nikon Corporation began the Strategic Partnership Program in 2016. The program aimed to provide clients with the best possible solution for measurement, inspection, and production problems. In 2021, the corporation allocated USD 541.5 million to research and development operations, followed by investments of USD 578.6 million in 2020 and USD 576.4 million in 2019.

  • Mistras Group - Offering asset protection solutions for assessing the structural integrity and dependability of vital public, industrial, and energy infrastructure is Mistras Group's primary business. The business offers specialized solutions that range from complicated to regular inspections by merging goods and technology. Mistras Group, Inc. provides mechanical integrity, predictive maintenance, destructive testing, and non-destructive testing services. Mistras Services, Mistras International, and Mistras Product & Systems are the three business sectors that comprise the firm. The firm provides engineering services, non-destructive testing, inspection, and asset protection solutions to the United States and Canada via the Mistras Services segment. Meanwhile, the business provides its goods and services to international markets, such as those in the Middle East, Europe, Latin America, Asia, and Africa, under the Mistras International division. The Mistras Group employs nearly 2,000 people abroad and has over 120 offices across 14 countries. Rockwood Service Corporation, APPLUS RTD, SGS Group, and Team, Inc.'s Team Qualspec business are some of the company's main rivals. In addition, the corporation allocated USD 2.5 million for research and engineering in 2020, USD 2.9 million for the same year, and USD 3.0 million for 2018.

  • Olympus Corporation - Olympus Corporation's primary business is producing and internationally distributing equipment and precision instruments. The four business segments of the corporation are Imaging, Scientific Solutions, Medical, and others. The firm sells industrial endoscopes, industrial microscopes, biological microscopes, and non-destructive testing tools under the Scientific Solutions division. Many sectors, including aerospace, mining & geology, chemical, automotive, specialty, security & defense, inspection service, oil & gas, and railway, are among those to which Olympus Corporation provides its goods and services. The company operates through 108 subsidiaries globally, in more than 200 locations across six continents. Its direct competitors include HOYA Corporation, FUJIFILM Corporation, Boston Scientific Corporation, KARL STORZ GmbH & Co. KG, Medtronic, Inc., and Ethicon Endo-Surging Inc. In 2021, the company spent USD 739,6 million on R&D; in 2020, USD 816,3 million; and in 2019, USD 847,6 million.

  • Sonatest - Sonatest is primarily engaged in the development of non-destructive testing equipment. The company offers parts, flaw detectors, coating gauges, thickness gauges, automatic UT inspection, transmitters, calibration, and scanners. These are ideal for construction, aerospace, metallurgy and assembly, composite inspection, engineering, marine, oil, and gas industries for their application in thickness measurement, corrosion testing, welding inspection, coating measurement, and composite inspection. Sonatest has corporate locations in the United States, Canada, and the United Kingdom. It is an R&D group in Canada focusing on advanced device design and new product development. Their office in the US is responsible for sales, product support, and service in that region. The company manages its fault detectors' manufacturing, sales, research, and design from its UK headquarters.

  • Yxlon International - YXLON International provides Computed tomography (CT) and X-ray systems for non-destructive testing and analysis. It is a subsidiary of Comet Holding AG, founded in 1948, that provides worldwide solutions for electron beam, radio frequency, and X-ray technology. The company's product portfolio encompasses a variety of systems, including CT and X-ray systems, as well as automated, customized, and complex systems. It also offers training, remote diagnosis, and installation services worldwide for X-ray and CT systems. Its business encompasses various sectors, including engineering, manufacturing and metrology, aerospace, electronics, and welding inspection. Additionally, it operates through a network of representatives in more than 50 countries.

  • MME Group - The MME Group has been manufacturing and selling non-destructive testing solutions for over 50 years, catering to various industries such as oil and gas, marine, and construction. Non-destructive testing, advanced NDT technology, marine research, cathodic protection, anti-sea growth, and cable access are among the solutions offered by the company. Furthermore, the business furnishes aluminum alloy equipment, playground facilities, and recreational security services. Ultrasonic testing, radiographic testing, testing of magnetic particles, penetration testing (including X-ray machines), current testing with high frequency, visual inspection tests, and hardness testing are all NDT testing services provided by MME Group. It offers digital radiography, electromagnetic radiation testing, time-of-flight differential, and automated ultrasonic testing as part of its advanced NDT services. MME Group is a private company. The organization has received certifications from ISO 9001 MMT, ISO/IEC 17020 NDT, DNV GL NTD, and NR669 Supplier NDM Approval.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Non-destructive Testing Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Non-destructive Testing Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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